5.3.11 Summary of key messages
- 5.3.1 Where to get a mortgage
- 5.3.2 Getting the best deal
- 5.3.3 Video: Negotiating your mortgage
- 5.3.4 Mortgage rights and responsibilities
- 5.3.5 Renewing and renegotiating your mortgage
- 5.3.6 Borrowing on home equity
- 5.3.7 Should you put debt on a mortgage?
- 5.3.8 Mortgage fraud
- 5.3.9 Signs of fraud
- 5.3.10 Protect yourself
- 5.3.11 Summary of key messages
- You may be able to choose from a variety of sources of mortgage financing.
- Negotiate to get the best deal when you take out a mortgage and when it is up for renewal. Consider both financial and non-financial aspects of a lender's mortgages and related services.
- Consider using a mortgage broker to help find the best deal, but don't rely exclusively on a broker. Visit financial institutions directly to assess their offerings.
- Balance the full costs against the potential benefits when you consider renegotiating a mortgage.
- Be aware of your rights and responsibilities as a mortgage borrower.
- Carefully consider the costs and benefits of reverse mortgages and other financing options that allow you to use the equity in your home.
- Be alert to the possibility of fraud as a homeowner and a mortgage borrower.
At the end of the module, you will find an Action plan. This is a tool that you can use to track your progress and take the next steps to manage your mortgage successfully in the future. Use the action plan as a roadmap for financial action!
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